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prices to next year. it will be oil related, a chance, good job with raising the tax threshold in the uk. that means for the first year in five. uk link will be up, not down. and them i also think thattory thing our chancellor did a good job of was she raised taxes by 10 so companies can invest a 215 pounds, not just 200 pounds. >> that's a leverage the other governments have been trying to pull. but your point is interesting. it's not just the uk we were seeing there. and it goes back to the point you were making about oil. u.s. retail gas prices are down 16% since their peak this year. if it weren't for the fiscal cliff, this is actually a big source of stimulus for households. absolutely. i don't want to make too much about it, but the biggest attacks oeft with the and elevated since the mid '70s, it could be coming to an end. so i think that is something we need to be aware of. the annual fuel rate in the uk is about 15 billion to consumers. you're looking at another percent on income. so as i'm sitting down righting the income for next year, it's not all doom and gloom, the mood is
'll take a look at gilts. slightly lower, 1.77%. big day for uk. manufacturing pmis out for the month of november. italian and ten year sbpanish yields are also lower. down on the greek announcements, but substantially below 6%. ten year bunds 1.37%. those yields slightly higher. on the currency markets, we talked about this euro-dollar six week high. below that at the moment, but not by much. dollar-yen moving off the 7 1/2 month high at 82.17. aussie dollar weaker despite the good chinese data. dipping below 1.04 earlier on. we had retail sales data that was a little bit disappointing. sterling-dollar back above 1.60 as we wait for the pmis. the most searched terms apparently of 2012 were the u.s. election and iphone 5. and while the most searched person of the year was kim kardashian, this is according to yahoo! search engine, kate middleton and political polls also made the top ten list. so here is a simple question for you today. what dunk were the most interesting stories this year or the most interesting story, the election, the owe almost picks, the ongoing saga in greece. let
, relatively flattish trade, as well. the yield here on the spanish yield, 5.3%. the uk seeing yeldz slightly higher, as well. but, of course, it is christmas. it is the holiday season that we're up against. so you would anticipate that maybe some investor res closing out recent profits. sitting tight and waiting for that next year to start, karen. >> thanks very much, louisa. we are indeed in a festive mood. let me echo a very merry christmas to the viewers out there. on the agenda in the united states, there's no economic earnings start to go speak of this christmas eve. the markets will be closing early with the nyse and nasdaq depending at 1:00 p.m. eastern, the cme at 1:15 and the nymex at 1:30. the cme will close up shop at 1:45 eastern. u.s. investors get the monthly case-shiller home price index on thursday wednesday. thursday, it's jobless claims, new home sales and consumer confidence. friday, we round out on the week with the chicago pmi pending home sales. interesting to see the level of volume that we had in u.s. markets on friday. it was 4.8 billion shares traded. the fourth lig
if it weren't for the ipad, the uk sales figures would be extraordinarily weak. >> yes. although, you know, for the uk economy, the consumer sector is not the weakest point. i think what is interesting about the uk economy in the last six months is this quite stronger than expected growth. if you look at the gdp number. but a very worrisome trend. so a liberal market that remains very, very firm with respect to other similar economic weakness. and i think that is what we really have to solve on the uk economy to know if this relativerelativ relatively soft, but also, i mean, rather encouraging if you look at other european countries numbers. i think we will have to wait until well into next year to understand if this is going to have a long-lasting consequences on the uk economy and also on the consumer sector. it's too early to say. >> you mentioned it's not necessarily the consumer where we're looking at the gauge of growth in the uk. but we see the employment figures be relatively strong even at a time when gdp generally is weak. what's the disconnect between what we're seeing in the em
export performance, creating jobs in the manufacturing sector. but germany and the uk need europe to improve. >> it comes at an inkrd eblly high cost in terms of the number of people out of work. what has been done? how much have we destroyed so that the jobs outlook and growth prospect in this country? >> well, what growth prospect in the southern european countries? we're seeing definitive bifurcation of northern europe and southern europe. southern europe, we are creating an underclass of long-term, especially youth unemployed that is going to give us a problem when the economies eventually start to get into balance and start to pick up. we still have this issue, even though we have tens of millions of people out of work, we still can't find the right skills and the right time. >> you mentioned the uk. the unemployment picture never got that bad in britain. so what happens now? why did it outperform? >> the uk is so different from the rest of europe. we've got london, the financial services sector, that didn't actually, in terms of job numbers, get hit as hard as the rest of eu
over to the delta brand. this is all about increasing its exposure into the uk market, specifically the slots at heathrow. those remain the crown jewel in terms of the airline business going over to europe. if you have access to those slots, it's a much easier way to become profitable or increase your profits over in europe. by the way, there are 31 daily flights between the uk and north america. we'll find out exactly what happens in terms of frequent flier redemption possibilities between delta and virgin atlantic. remember, virgin atlantic is not part of any global alliance, not part of the sky team alliance, although many wonder if that's going to change with some time. take a look at shares of delta. richard anderson has had a nice little move here. some people would say, listen, this is all about jet fuel as it has moderated. there's something else at play here. we'll be talking with richard anderson about this at 11:40, first on cnbc. we'll talk to him after the press conference announcing this deal. you don't want to miss what he has to say. this is a ceo, and we've talked a
irish fan, so hopefully not. >> is dolmen all over the uk? >> that's correct. they're predominantly in ireland, but you look at ireland right now, they're actually going through the reforms. they're trying to inject money in a credit fashion into their economy. and we certainly think we can bring our fixed income expertise and continue to help them. >> that would make sense for cantor. ireland was the mf-will first they were in trouble, then the model for the world. what got them into trouble again, housing or real estate or something or bad banks or -- and now again they're kind of a model for everyone on how to handle it. is that basically the last five years? >> absolutely. certainly was a real estate bubble there. now there are austerity measures being put in place and they're actually following through on the austerity measures. so certainly they'll come out first and actually look pretty good. >> so where is the most business for you for cantor in ireland, what will you be doing? >> certainly it's an equity based firm. we'll bring our fixed income expertise, probably become th
in virgin. fill lebeau, what does it mean for both? >> for both? delta, more business over to the uk, lucrative business. we'll talk to the ceo of delta in a few minutes. rick santelli tracking the action at the c mulch e. what was it like today? >> it wasn't bad. we're going to give this auction a hook, an absolutely dead smack in the middle of the curve c. there's some strange inputs in this auction. $32 million yields a .327, which is exactly in the middle bitten off on wi. so pricing is fine. if you look at internals, a bid to cover -- to find a lower bid to cover they have to go back to february. if you look at direct bidding at 24.8, that is a record. that's almost twice 13%. if you look at indirect bids it's almost exactly the opposite. 22.9 well below 32% auction average and lowest since may of '07. we walk away thinking not so great. now that yield i mentioned, .327 is a record all-time low yield for the threes. after i sypher all that we come up with an average and look forward to $21 billion, ten years, early auction because of the fed decision. back to you, tyler. >> rick
as analysts cut their outlook for the uk power group. >> okay. welcome. it's the start of a brand new week here on "worldwide exchange." and don't adjust your set, kelly and i are together. >> for once, for a day. >> but make the most of it because it won't be lasting. >> if only there were a slo-mo. >> i'm going to enjoy as much as i can of today. >> and likewise. and then we're going to have to get all of our u.s. voouers to find cnbc world because they could get three hours of you, carol and carolin for the rest of the week. >> whatever they can do. record it and fast forward to the good bits. >> yeah. >> it will be 2:00, 3:00 in the morning or whatever. >>> on today's show, plenty to come on. >> yes. the south american union faces ejection from the imf for allegedly cooking its books about the innation rate. we'll head out to europe where the swiss banking giants could be facing $1.6 billion over libor rate rigging allegations. >> and we'll be on the floor in beijing where china's leaders just wrapped up a major conference. >>> and japan's prime minister election is calling on the bank
all closed in europe. only the uk, french, dutch and spanish stock markets are open and they're going to be closing early. there are now only five trading sessions left in 2012. get your act together. stocks and bonds, solid gains so far this year. the dow has advanced 8% in total. the s&p 500 up almost 14%. the nasdaq has jumped 16%. it's been a good year. the end of the year also means we are just days away from the fiscal cliff, however, and that's the bad news. and looming tax hikes, spending cuts, all of that. both sides warning a very big deal becoming a bit more unlikely. >> and my one bit of advice to speaker boehner is this. you cannot pass a bill with just republicans. on a broad thing like this, you need both. and he has put himself with plan b and sort of an impossible position. he has to get these hard right goes to go along with him. and he and the president were going to say we're going to pass a deal with the majority of republicans and the majority of democrats in the house and senate, we would get a mainstream deal. >> i think we're going to fall out of the fiscal tr
melber. steve. queen bee and managing editor of the sunday morning himself. favorite import from the uk, maggie haberman. michael steele, notorious as we call you here. thank you for your time. indubable. chris solizza. >> i assume they are compliments. >> they are $5 compliments. >> emmy darling. emmy darling. the man with the golden throat. cnbc guru john harwood. our favorite wonk of them all. president obama's money bunny bill burton. >> money bunny? >> given the hop to it attitude. current editor of "now." >> we want to make you the official cultural ambassador of the program now. >> okay! >> we can always count on a little help from our friends. >> always handsome martin bashir. >> you've put me between two of the most attractive people on this network, jonathan capehart. >> i got a title, did you know that? >> this is a legendary moment. >> this is hot. >> this is hot. >> in the days before my time, less known your time -- >> we're just babies around you. >> that's why i come on, to get my wag on. i get my wag on. >> stop right now. >> now! >> thank you for getting me wag on. >>
a consistent disinvestment from developed equities and bought in the uk, europe, japan and the u.s. >> i got one bet for the new year. mike o'brien is going to pick the irish over alabama in the national championship game. >> all day, every day. >> mike o'brien of jpmorgan, thanks very much. >>> don't miss david faber and his exclusive cnbc interview with charter communications chief executive officer, thomas rutledge. it will be mr. rutledge's first sitdown since taking on that role in february. shares of charter gaining more than 30 prgs ov% over a one-yea. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. >>> rhetoric heating up over the fiscal cliff. will we see a deal by christmas? that was our poll question. 28% said yes. both sides know they need to get it done. 38% said no. n
been many authorities, the royal college of physicians in u.k., for example, and they say it's somewhere between 99% to 90% less harmful than smoking. and i do agree with that. that's the ballpark. >> fagerstrom says snus is automatically less harmful because there's no smoke and no inhaling, the cause of most tobacco-related disease. let's say i'm a smoker and i quit and i go to snus. >> yes. >> what have i eliminated in terms of harm for myself? >> it doesn't have any impact on the respiratory airways, eh? it may not cause any cancer at all, except for a possibility that it might slightly increase the risk of pancreatic cancer, which is not a very common cancer. >> no, but it's a pretty deadly one. does it create more pancreatic cancer than smoking? >> no, smoking has a higher risk. so still it is even on pancreatic cancer, it is a reduced risk. >> he says snus, which has the same level of nicotine as cigarettes, may raise blood pressure, but doesn't cause heart disease. what about mouth, the gums, oral cancer? >> the funny thing is that with the swedish sort of snus, it ha
. starbucks has been brought up before parliament in the uk to answer questions about why they are not keeping their tax money at home. the reason is, the tax rates are too high on corporate profit. bring them down and the taxes will stay at home and you won't have it problem at all. >> yeah, i think the real underlying problem is the bad state of the u.s. tax code that forces people it take advantage of things that are legal if not necessarily patriotic. >> these companies are following the rules. nobody is accusing them even of breaking rules. >> it is not illegal. >> we have to expect them to do exactly that. >> fix the underlie be problem and you fix this. then they might actually good to work under this country. >> we should say thank you for doing that. >> jc penney throwing in the towel on no coupons policy. 20% off on friends and family discount over the weekend. has ron johnson finally come around? or too little too late john karner? >> i was a buyer into the story line. when i saw bill akman give his presentation on how jc penney would turn things around with no more coupons, i bough
the key here. 31 daily nonstop flights. that's all part of what goes between the uk and north america for virgin atlantic. the brand remains, guys. make that clear here. the virgin atlantic brand does not go away. what changes is that delta has a 49% stake in the company. there's going to be a press conference later this morning here in new york. we're going to be talking with delta ceo richard anderson, and "squawk on the street" a little later on this morning. but this is a big deal in terms of what's happening with the airlines, and that international consolidation that we've all been expecting. guys, back to you. >> before you go, real quick. how much is this going to really impact delta, singapore air, which had this stake, was unhappy ultimately, because they didn't have the control that they really needed. or thought that they needed. >> i think richard anderson believes he will have the control. also singapore airlines, many believe that it did not utilize the access to heathrow as effectively as delta will be able to in terms of flights between north america, and heathrow. so
on this day after christmas. the uk and france among those celebrating foxing day. we start off with, what else, retail. dips in spending in the mid-atlantic and northeast regions. luxury sales also weak. >> we're coming off the worst christmas eve for the dow since 2006. as the president cuts short his hawaiian vacation to deal with the fiscal cliff, just five days to go until we go over. >> threatening both coasts with workers snubbing up best and final contract offer. >> and more on the home front. we'll have more on the data and whether it can keep one of the best performing sectors of 2012, home builders going in 2013. >> data showing what some experts say is the slowest growth in spending since the 2008 recession. according to mastercard, spending polls units through christmas eve, retail sales rose just .7% from the year before. the national retail federation says it is forecasting a 4% jump in sales. we'll continue to get trickles of data as we progress through this last week. it is still an important week, the final week before the new year in terms of retail sales for these guys.
europe and people in the u.k. and throughout the world. my hope is we are going to get the deal done. >> we have three weeks or so to play with at least this year some say. is that feasible knowing what you know? >> i think what you have to realize is there has to be a down payment. president outlined what he wants for that down payment on revenue side. let's have rates go back up which was the underlying assumption that was included in the whole simpson-bowles plan. the gang of six plan embraced that as well. brought the rates back up to 39%. you could still do tax reform after that to bring them back down and eliminate the tax expenditures. that's a good starting point. will we fully get through tax reform and entitlement reform by the end of the year? obviously not. what i fear is let's not continue to negotiate this into the 11th hour. every day that we go on during this period, during retail season, you hold back consumers which we know consumer confidence is two-thirds of the economy. folks are not buying stuff because they don't know what will happen come the beginning of the
. concerns over the uk economy. so we'll see how investors take to what's probably going to be a loosening up of the budget targets the chancellor set when they came into power. so we'll keep our eyes on that. and at the moment today, more talks in brussels. the greeks now getting their buy back program approved 37 trying to sort out a single supervisor. i think these talks will be fairly tricky because there is a majority who bt with a tant the be supervisor for all the banks. german didn't like that. so those talks will go on longer than originally hoped. but we are marginally higher going to the u.s. open. thank you. >> kelly, thank you. i'll just call you r kelly in now. >> that's not bad. >> ross, thank you. great to see you. >>> when we come back on squawk, bank of america ceo brian moynihan in his own words, we caught up with him yesterday to talk about business, the economy and the looming figure. as we head into a break, bank of america, best performing dow component of the year. up about 77%. ♪ [ male announcer ] how could switchgrass in argentina, change engineering in dubai, alu
territory. so we're firmly in recession here in the eurozone and in the uk as well. we saw services pmi come in weaker than expected. contraction territory for new orders -- this is the british chancellor today. george osbourne will be delivering his autumn statement where he's probably going to say growth isn't strong enough so we're going to not really meet our budget targets as well. all these things coming into play at the moment as we wait for the u.s. session. we did have a good piece of news, though, out of china. the new leadership saying wle do whatever it takes to maintain solid economic growth. the shanghai composite up nearly 3% today. that boosted retail stocks. we also had a spanish bond auction, prefunding for 2013. got nearly the 4.5 billion they wanted. yields in spain. the ten-year did come lower on that auction, so not a bad result. and bid to cover was okay. so spanish yields slightly higher after that. didn't raise the maximum amount. that's where we stand. it's another cautious day under way in europe. back to you guys. >> might get my haircut like hers, ross. you know,
for that company for autonomy. the uk unit of deloitte was in charge of signing off on autonomy's financial statements also before hp bought the company in 2011. but deloitte was also paid significant fees for other work it did for autonomy like due diligence work on a potential acquisition and to many observers the multitasking is potentially an industry problem. >>> let's take a look at stocks to watch this morning. we'll start with the first one, we'll look at enbridge which at this point is not doing a whole lot. it's indicated up 0.3 of a percent. enbridge has raised its dividend by 12% and it sees strong growth in its outlook for next year. next on the list which is coming up now is cooper. cooper fourth quarter profit rising 27% on continued contact lens sales. so, this is -- there's, like, six different coopers at one point. this is the contact lens. there's cooper tire. >> different one. >> cooper company, and cooper. >> dan, when you take a look at everything that's out there, everything that's happening in the economy, what's happening with washington, what's your biggest concern
to stay profitable going forward. aggreko, this is a power generator supplier here in the uk, down 15% after it was talking about the outlook for 2013. more muted than what certainly people had been expecting. and holcim, the world's biggest cementmaker, it's reinvesting, taking write-downs and charges in its fourth quarter in order to cut operations in most of the of its european operations down 1.3%. certainly not as much as adegreeso, but kind of a da room ter. i want to turn now to forex, show you what's happening with the euro first. over here, as you can see, we're down about .3%. that's consistent with what we're seeing across bourses. bond not all that interesting today. a bit of a mixed bag. and i'll end here, guys, on, of course, the dollar/yen. japan did have when aer being called transformative actions weekend. it still remains toes be seen whether shinzo abe is going to be the next prime minister. can it help spur the company back towards growth? remember, with currencies, it's all relative and there are a lot of other players around the world who are trying to weaken the
, italy, france and the uk. this comes one day after a federal judge denied a request by apple to ban u.s. sales of samsung smart phone models. the devices in questions are the ones that a jury back in august say illegally used apple technology. at that time apple had been awarded $1.1 billion in damages. >>> the markets, dow looks like it will open up about $68 points higher. s&p up about 10 points, the nasdaq up 22.5 points coming on some of this news that we may be getting closer on the fiscal cliff. let's check out what's going on in asia. hang seng was down off marginally. shanghai composite up marginally and the nikkei up as well. quickly in europe, you can take a look at what's going on there. the ftse up about 0.38%. cac flat, and the german dax up about 0.5. >> the white house is proposing a new deal to avoid the fiscal cliff. let's get to steve liesman with more of the details. >> you're surprised, aren't you? >> isn't it happening. >> soon as they want it done they can do it. >> you said it this morning. it's a fictitious thing. we're going to show you the movement in just a
. and pervasive, they call it manipulation of libor by dozens of staff. the penalty was agreed to with u.s., u.k., and swiss regulators. it is more than three times the $450 million fine that was levied on barclays in june. the second largest fine ever on a paid -- paid by a bank. it only was topped by the $1.9 billion penalty that hsbc agreed to last week to settle that money laundering probe. >> crazy thing that stock's up. it's leading the exchange there today because people had been expecting maybe a slightly higher fine even than that. three times the amount. it was supposedly taking place for five to seven years, 30 to 40 traders have left. pretty pervasive. >> i wonder how much they -- they make money or lose money after -- >> after all was said and done. $1.5 billion. >> probably lost. they did well. the libor stuff, if you can set rates -- >> well, and the crazy thing, it affects so many different instruments and so many people and so many businesses. >> right. >> i don't know that you could ever actually figure out all the implications from it. >> right. from everyone. and in a related
will close at 12:30. facebook is accused of dodging taxes in the uk. the london "times" said they tried to hide taxes. a tablet for under $100, the journal said acer selling a $99 tablet next year. similar to the amazon kindle fire and barnes & noble nook color. >> by now, we all should certainly know about the fiscal cliff, shouldn't we. but there's another so-called cliff that's getting people's attention. brian shactman has more. >> some calling it the container cliff. negotiations broke down late last week. that could be bad news from massachusetts to texas. if there's no deal, several thousand dock workers could walk off the job at 15 ports at 12:01 a.m. on december 30th. this includes the port of new york and new jersey, which is the largest on the east coast, handling more than $200 billion worth of goods in 2011. a lot of that from china. the basic issue is this. there are container royalty fees which supplement wages. the employers want the amount capped. the dock workers do not. this is such a big deal florida governor rick scott sent a three-page letter to the president late
Search Results 0 to 23 of about 24